In this article, theoretical calculation of optical gain has been performed for IV–VI lead salt PbSe/Pb1–xSrxSe quantum well lasers emitting at about 4–6 µm by using an analytic gain expression. The reduced density of states and interband transition matrix elements used in the calculation were derived in the framework of the k·p model. Peak optical gain as a function of carrier concentration and radiative current density was calculated. The material parameters and laser structures that affect device performance were analyzed in details.